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Deutsche Bank’s ongoing troubles will not turn into a “Lehman moment,” says Allianz chief economic adviser Mohamed El-Erian.
El-Erian on Thursday told Bloomberg TV that the German lender’s current turmoil will not lead to “a sudden stop to the global economy,” like the one that followed Lehman Brothers’ 2008 failure.
Deutsche Bank’s shares rallied after Reuters on Wednesday reported that
the German government is pursuing talks with US authorities to help the bank settle its enormous fine as quickly as possible. On Thursday, the bank announced 1,000 new job cuts in Germany.
Here are the top Wall Street headlines at midday
BofA Merrill Lynch’s Thiel to step down as wealth management head — Thiel will become vice chairman of Global Wealth and Investment Management, effective Jan. 1.
Insurance stocks are getting hammered ahead of Hurricane Matthew — Shares of publicly-traded property and causality companies are taking it on the chin as Hurricane Matthew bears down on the Florida, Georgia, and South Carolina coasts.
Chad just fined Exxon Mobil $74 billion — here’s how that stacks up against the size of its economy — A payday of $74 billion would be a huge boost to Chad’s economy.
Goldman Sachs is reportedly pulling money from Leon Cooperman’s hedge fund — Omega and Cooperman were charged with insider trading last month.
The US job market hasn’t looked this good since the 1970s — The number of first-time filings for unemployment insurance fell to 249,000 last week, according to the Department of Labour.
BYRON WIEN: ‘UK and European stocks are a buy’ if Theresa May gets Brexit right — Byron Wien got some insight into where Brexit negotiations are going during United Nations Week in September.
The maker of EpiPen overcharged the government, and lawmakers are furious — The Centres for Medicare & Medicaid Services confirmed to lawmakers that Mylan, the drug company that makes EpiPen, has been overcharging the government for the life-saving allergy medication.
Here’s your full preview of Friday’s jobs report — On Friday, the Bureau of Labour Statistics will release its report on America’s employment situation during September.